eddy current

from The Century Dictionary.

• noun In electricity, currents induced by alternating, rotating, or moving magnetic fields in places where they are not desired and are objectionable because they consume energy and produce heat.

from the GNU version of the Collaborative International Dictionary of English.

• (Elec.) An induced electric current circulating wholly within a mass of metal; -- called also Foucault current.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun physics An induced electric current formed within the body of a conductor when it is exposed to a time varying magnetic field; utilized in induction heating and in some braking and damping systems.